I have actually been utilizing etoro for a number of years now and i have to state considering that my last etoro evaluation video the platform itself has actually changed a hell of a lot i thought what much better opportunity with the new year to provide a new review on etoro talk about the excellent points the bad points and the things that etoro frantically needs to improve on if it is indeed to contend with the likes of robin hood when it opens stock trading in the us so if you are new to investing or are simply looking for a new brokerage account and etoro is a choice then this video is for you all i ask in return is if you discover this video helpful you gently tap that like button to assist me out with the youtube gods and without more ado let’s get on with the video so right off the bat i want to clarify etoro is not the sole brokerage account i utilize i do have a number of accounts of them and i have used them for numerous years nevertheless i do feel there is lots of areas that etor desperately needs to improve on if it is undoubtedly to compete and i’ll be rather extreme in slamming them in this video i feel like it’s just reasonable as someone who does utilize etoro on a day-to-day basis to offer the honest and harsh fact on the negative side as well as the favorable side nevertheless overall i do have to say i am extremely happy with them and if you are looking for a 2nd brokerage account or our new financier i would just say dive in the minimums are quite low give it a try and see if it fits your requirements and if you do so via the affiliate link down on the pinned
comment and follow the actions there you do in fact get life time access to our lwt etoro discord so you can interact with other investors directly even if you do open the account realize it’s not for you that chat room is readily available for you simply follow the steps down on the pinned remarks let’s start about who etoro is and what they’re about they are an absolute mega giant of a broker over here in europe and they will introduce stock trading in the us which i feel will be the most significant game changer for this company i have to state myself as somebody who has worked in financing for over 15 years etoro are tackling it the right way they are regulated in many different jurisdictions and they are broadening at the best pace ensuring all the eyes are dotted all the t’s are crossed prior to they open in any jurisdiction for example they are managed with the fca over in the uk sysek over in cyprus they’re controlled in australia and naturally they are on the finra website over in the us as i stated u.s stock trading is coming very soon however the truth that they are taking their time over in
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the us prior to they introduce stock trading over the last year or so is in fact a great sign for me because they’re making certain they do not have a situation where they leave themselves open to suits or they mess up with regulation it appears every second week robin hood has some court case or some big problem they have to handle we have crypto brokers like binance over in the uk facing serious problem with the policy and the fca there it seems that etoro are taking the best actions first prior to they launch making sure that the customers remain in the safest possible position and they do not leave themselves open i need to say this is a terrific sign for a modern brokerage with an app unlike the old standard saxo bank and interactive brokers a contemporary commission totally free platform more on that later going the best steps ensuring that all the eyes are dotted or the t’s are crossed before they open in any area they are actually working in this reveals me that etoro is aiming to stick around for the long term and they have clear objectives of growing to be one of the greatest brokerages on the planet now the minimum amount required to open an account does vary on where you lie on screen now you can see the minimums offered but if you are from the us or the uk
the minimum to open an account is really 10 dollars and a lot of other nations it’s only fifty dollars so you can go ahead inspect this link it will remain in the description and see just how much it costs to open an account with etoro in your jurisdiction now like i said etoro is a commission free brokerage but of course brokers want to generate income so how the hell do they do that well the very first apparent fee is if you take money out of your account there’s a five dollars charge but to be truthful that most likely gets wrapped up in deal costs and he toro most likely doesn’t see that much of it the method they make their cash is on something called a spread if you go onto most brokers these days unless you’re getting charged a flat rate you will see that when you purchase a stock and when you sell a stock there’s a little difference in between generally it’s just an extremely small fee and that is called the spread that is the fee that etoro will possibly keep on this trade that’s how they make money since they are not charging you a commission to open the trade they’re just opening the trade at a somewhat greater price and the easiest way of describing this is if you purchased say apple in this example on screen from time to time you instantly put it in your portfolio you will see a slight loss on this trade week one day one minute one second one and that portion loss is just how much it cost you to open that trade or you can even in fact go and see the dollar charge of how much it approximately cost you to open said trade however after using this platform for a long period of time when you close the trade too there is a small distinction and what occurs here is etoro tends to determine the difference and that is just how much they have actually made i have actually tracked this for a long period of time and seen that
when i really do close a trade rather a great deal of the time the fee that i get charged is a lot less than the initial cost that i had for opening the trade itself but this is the typical basic structure nowadays for a lot of brokers that provide commission open markets if you do not wish to pay a spread you can go and open an interactive brokers account a saxo bank account or a few of the other more advanced platforms and you will get charged a fixed fee per trade but for me personally i believe for more recent financiers particularly this is a much cheaper way of doing things now what does etoro have to offer well they provide stocks etfs cryptocurrency cfds more on that in just a second copy trading and many many more properties like commodities and foreign exchange or currencies however having a platform that allows you to trade numerous sectors is absolutely useful for example you can short bitcoin and go long silver you could likewise short the japanese yen and go long into gold there is many different aspects offered with this platform and i feel in the modern day world we live in currency products things of the sort are definitely more needed in brokerage houses particularly for the brand-new financier however i did discuss cfds though which is a contract for distinction these are essentially agreements that brokerage or other institutions can use a client to purchase a company normally it’s a way of having a lot more leverage without in fact owning any of the stock you are making an agreement with stated organization now cfds are actually not readily available to individuals in the us however they are available to individuals over in europe and in the uk but i have to say given the scariness of leverage and more than 60
of people trading cfds lose cash i just completely keep away from cfds especially if you are a newer or intermediate financier and on that also simply keep away from utilize it’s not actually helpful for your portfolio now before we proceed to the two most popular things with etoro and things that individuals tend to like the most we need to talk about the stocks etfs and commodities now this is the biggest issue etoro has in my opinion and they are looking at altering this extremely soon in fact i think it’s one of their most significant goals for 2022. now although etoro tends to have most the stocks that you want to trade or etfs they do not have them all and they are adding them at a fairly slow rate they do not want to include every penny stock under the sun that nobody’s in fact trading like i said they make their cash on the spread out so the more individuals trading a stock the more money they make if they included a low-cap cent stock that only one individual’s trading every single day they’re not going to make that much money so they are only adding stocks that they feel that a helpful and b well less risky i actually see this as a little bit of a positive for new investors although for someone like myself who’s had a lot more
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experience it is rather annoying that a few of the stocks that i do want to trade or at least look at and not on the platform now that said i have spoken to etoro on this and they have guaranteed me that a lot more stocks at record volumes are going to be included this year so by the time this video comes out it may not even be that pertinent but i’m sure if you are a torah user and watching this it can be irritating that maybe one out of 10 stocks is really not readily available on the platform so let’s hope etoro sees this video and it changes very soon now the two most popular things on etoro is the popular investing and the social platform program
Just available in 43 states
All U.S. homeowners can sign up for a virtual trading account. Delaware, Hawaii, Minnesota, New Hampshire, New York, Nevada, and Tennessee consumers presently can not trade with eToro.
Alternatives to think about
If you wish to trade stocks and cryptocurrencies in the same location: Robinhood uses trading in stocks and choices, including fractional shares. In addition, it uses 7 various cryptocurrencies and charges no deal charges.